Satoshi's BTC Deemed Lost Property in Lawsuit

A New York lawsuit seeks to classify 39,069 Bitcoin addresses, including those linked to Satoshi Nakamoto, as lost property valued under $10 each. The amended complaint, filed by a pseudonymous plaintiff named Noah Doe, asks a state court to transfer ownership of these dormant wallets. The legal strategy hinges on the argument that inactive addresses without transaction activity for years constitute abandoned property. If successful, this could set a precedent for claiming long-dormant crypto assets, potentially impacting market dynamics by reintroducing old supply. However, the low valuation per wallet raises questions about the suit's credibility, as the actual BTC value far exceeds the claimed amount. The case highlights ongoing legal battles over crypto ownership and the treatment of digital assets under property law.

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